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Pound Sterling plummets as two BoE members favor 50 bps interest rate cut
Pound Sterling plummets as two BoE members favor 50 bps interest rate cut
The Pound Sterling (GBP) plummets against its major peers in Thursday's North American session after the Bank of England (BoE) monetary policy meeting in which the central bank reduced interest rates by 25 basis points (bps) to 4.5%.
GBPUSD
BOE
Fed
NFP
SEO
Nasdaq Futures Analysis by TradeCompass
Nasdaq Futures Analysis by TradeCompass
Bullish 21,856 above, bearish below 21,796
TradeCompass
Nasdaq
Nasdaq Technical Analysis
What are the main events for today?
What are the main events for today?
The highlights include the Bank of England policy decision and the US Jobless Claims
market overview
GBP/JPY falls below 190.50 as traders expect BoE to deliver an interest rate cut
GBP/JPY falls below 190.50 as traders expect BoE to deliver an interest rate cut
GBP/JPY continues to lose ground for the second consecutive day, trading around 190.40 during the early European hours on Thursday.
GBPJPY
Crosses
Macroeconomics
UnitedKingdom
Japan
This Bitcoin Miner from Wall Street Plans 317% Hash Rate Jump by September
This Bitcoin Miner from Wall Street Plans 317% Hash Rate Jump by September
News Discussion Forum
By Finance Magnates
This Bitcoin Miner from Wall Street Plans 317% Hash Rate Jump by September
HIVE Digital Technologies, the publicly listed Bitcoin miner from Wall Street (NASDAQ: HIVE ), announced its January production results alongside a significant expansion into Paraguay.
Bitcoin Mining
HIVE Blockchain Technologies
China’s Commerce Ministry: Won't proactively provoke trade disputes, willing to resolve issues
China’s Commerce Ministry: Won't proactively provoke trade disputes, willing to resolve issues
Speaking on US tariffs, Chinese Commerce Ministry said on Thursday, “China won't proactively provoke trade disputes, willing to resolve issues through dialogue and consultation.” Additional comments China willing to work with relevant countries to jointly respond to challenges of unilateralism and trade protectionism.
China
TradeWar
AUDUSD
UnitedStates
The bond market looks to have made up its mind on the week
The bond market looks to have made up its mind on the week
What's next as 10-year Treasury yields break the key technical neckline around 4.50%?
Bonds
German Factory Orders jump 6.9% MoM in December vs. 2% expected
German Factory Orders jump 6.9% MoM in December vs. 2% expected
The official data published by the Federal Statistics Office showed Thursday that Germany's Factory Orders rebounded firmly in December, suggesting that the country’s manufacturing sector is seeing a sharp turnaround.
Germany
EconomicIndicator
IndustrialProduction
EURUSD
Eurostoxx futures +0.4% in early European trading
Eurostoxx futures +0.4% in early European trading
A more positive mood ahead of the open later
Stocks
Germany December industrial orders +6.9% vs +2.0% m/m expected
Germany December industrial orders +6.9% vs +2.0% m/m expected
Latest data released by Destatis - 6 February 2025
BoE Press Conference: Governor Bailey speaks on policy outlook after lowering bank rate by 25 bps
BoE Press Conference: Governor Bailey speaks on policy outlook after lowering bank rate by 25 bps
The Bank of England (BoE) will announce its decision on monetary policy on Thursday after completing the first meeting of 2025.
BOE
GBPUSD
Inflation
Growth
Breaking
Switzerland January seasonally adjusted unemployment rate 2.7% vs 2.7% expected
Switzerland January seasonally adjusted unemployment rate 2.7% vs 2.7% expected
Latest data released by the Federal Statistics Office - 6 February 2025
EUR/GBP softens below 0.8350 as traders brace for BoE rate decision
EUR/GBP softens below 0.8350 as traders brace for BoE rate decision
The EUR/GBP cross remains on the defensive around 0.8320 during the early European session on Thursday.
EURGBP
Crosses
Macroeconomics
TradeWar
BOE
ECB’s Cipollone: Rate cuts are coherent with declining inflation picture
ECB’s Cipollone: Rate cuts are coherent with declining inflation picture
European Central Bank (ECB) executive board member Piero Cipollone said on Thursday, “rate cuts are coherent with declining inflation picture.” Additional quotes Inflation is almost reaching the target.
ECB
CentralBanks
InterestRate
EURUSD
ECB's Cipollone: There is still room for adjusting rates downward
ECB's Cipollone: There is still room for adjusting rates downward
Remarks by ECB executive board member, Piero Cipollone
BOE policy decision in focus today
BOE policy decision in focus today
A 25 bps rate cut beckons to start the new year
FX option expiries for Feb 6 NY cut
FX option expiries for Feb 6 NY cut
FX option expiries for Feb 6 NY cut at 10:00 Eastern Time via DTCC can be found below.
Currencies
Options
USD/CHF rebounds from 0.9000 mark, over one-week low amid modest USD strength
USD/CHF rebounds from 0.9000 mark, over one-week low amid modest USD strength
The USD/CHF pair defends the 0.9000 psychological mark and attracts some dip-buyers during the Asian session on Thursday, snapping a three-day losing streak to over a one-week low touched the previous day.
USDCHF
RiskAppetite
Fed
TradeWar
Currencies
FX option expiries for 6 February 10am New York cut
FX option expiries for 6 February 10am New York cut
A look at what is on the board for today
BoJ’s Tamura: Not saying that the neutral rate should be 1%
BoJ’s Tamura: Not saying that the neutral rate should be 1%
Bank of Japan (BoJ) board member Naoki Tamura is back on the wires, via Reuters, clarifying his earlier remarks on the central bank’s interest rate.
BOJ
CentralBanks
InterestRate
USDJPY
EUR/USD holds losses below 1.0400 ahead of Eurozone Retail Sales data
EUR/USD holds losses below 1.0400 ahead of Eurozone Retail Sales data
EUR/USD depreciates after two days of gains, trading around 1.0390 during the Asian session on Thursday.
EURUSD
Macroeconomics
Majors
Eurozone
ECB
ForexLive Asia-Pacific FX news wrap: USD/JPY drops under 152.00 (bounces back)
ForexLive Asia-Pacific FX news wrap: USD/JPY drops under 152.00 (bounces back)
Forex news for Asian trading on Thursday, February 6, 2025
Session wrap
Wrap Asia
Federal Reserve Board Governor Christopher Waller is speaking on Thursday
Federal Reserve Board Governor Christopher Waller is speaking on Thursday
Its on 'payment' issues so we may not get anything on his economic or policy views
Panama Canal authority says its made no change to canal fees
Panama Canal authority says its made no change to canal fees
Earlier we had the report of free passage for US government ships
Politics
GBP/USD steadies around 1.2500, downside risks appear due to dovish mood surrounding BoE
GBP/USD steadies around 1.2500, downside risks appear due to dovish mood surrounding BoE
GBP/USD halts its three-day winning streak, trading around 1.2490 during the Asian hours on Thursday.
GBPUSD
Macroeconomics
Majors
UnitedKingdom
BOE
BoA expect just 3 RBA interest cuts in 2025, terminal rate of 3.6%
BoA expect just 3 RBA interest cuts in 2025, terminal rate of 3.6%
Citing sticky inflation, fiscal spending, tight labour market
RBA
AUD
US Treasury Sec Bessent: Focus is on bringing down 10-year Treasury yields than Fed’s key short-term rate.
US Treasury Sec Bessent: Focus is on bringing down 10-year Treasury yields than Fed’s key short-term rate.
US Treasury Secretary Scott Bessent said late Wednesday, the “focus is on bringing down 10-year Treasury yields, rather than the Fed’s benchmark short-term interest rate.” Additional comments Failure to get the tax bill done will result in the "largest tax hike in history".
UnitedStates
InterestRate
Fed
DollarIndex
US Treas Secretary Scott Bessent - more on Trump wanting lower 10 yr yeild, not short term
US Treas Secretary Scott Bessent - more on Trump wanting lower 10 yr yeild, not short term
Bessent spoke earlier - did he let the cat out of the bag?
Bonds
SPX
Fed
USD
USD/INR climbs as RBI rate cut bets drag Indian Rupee lower to fresh all-time low
USD/INR climbs as RBI rate cut bets drag Indian Rupee lower to fresh all-time low
The Indian Rupee (INR) extends its downside on Thursday. The local currency remains under selling pressure amid the expectation that the Reserve Bank of India (RBI) might cut the interest rates on Friday.
USDINR
SEO
India
Macroeconomics
EmergingMarkets
The Nissan - Honda merger is off
The Nissan - Honda merger is off
Confirming the rumours from yesterday
Nikkei
Ex-RBA official Australia’s weak economy, sticky CPI, trade uncertainty risk 4soft landing
Ex-RBA official Australia’s weak economy, sticky CPI, trade uncertainty risk 4soft landing
Below-potential growth, sticky inflation, and global trade shocks to complicate path to soft landing
Japanese Yen surrenders intraday gains against USD; bullish potential seems intact
Japanese Yen surrenders intraday gains against USD; bullish potential seems intact
The Japanese Yen (JPY) remains on the front foot against its American counterpart during the Asian session on Thursday amid the growing acceptance that the Bank of Japan (BoJ) would keep raising interest rates.
USDJPY
BOJ
InterestRate
Fed
SEO
Bullish
WTI remains on the defensive near $71.00 amid a rise in US oil stockpiles, concern about US-China trade
WTI remains on the defensive near $71.00 amid a rise in US oil stockpiles, concern about US-China trade
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $71.00 during the early Asian session on Thursday.
Oil
WTI
Commodities
Macroeconomics
AUD/JPY drops to near 95.50 as Australia's trade surplus shrinks to a three-month low
AUD/JPY drops to near 95.50 as Australia's trade surplus shrinks to a three-month low
AUD/JPY extends its losses for the second successive day, trading around 95.60 during the Asian hours on Thursday.
AUDJPY
Crosses
Macroeconomics
Japan
Australia
BoJ's Tamura suggests gradual rate hike in a timely manner
BoJ's Tamura suggests gradual rate hike in a timely manner
The Bank of Japan (BoJ) board member Naoki Tamura on Thursday suggested a gradual rate hike in a timely manner.
Japan
InterestRate
CentralBanks
Macroeconomics
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